 "L&T bags Rs 10-15K cr order to build two solar plants in West Asia")
Indian engineering giant Larsen & Toubro (L&T) on Monday said it has sealed a deal to build two Gigawatt-scale solar power plants in West Asia. which are likely to be valued between Rs 10,000 to Rs 15,000 crore.
“The renewable arm of Larsen & Toubro (L&T) has finalised mega orders with a leading developer in the Middle East to build two Gigawatt-scale Solar PV plants. The plants will have a cumulative capacity of 3.5 GW,” L&T said in its statement.
L&T, however, did not disclose the exact value of its order wins, but mentions a category. A mega order refers to those in the value range of Rs 10,000-15,000 crore.
The company added that the scope of the orders also includes grid interconnections encompassing pooling substations and overhead transmission lines. Detailed engineering and initial construction work are expected to commence shortly.
The company also said that with this, L&T’s renewables portfolio is poised to reach 22 GWp (Gigawatt Peak) cumulative capacity, comprising solar and wind generation projects already commissioned and those in the making.
SN Subrahmanyan, chairman and managing director, L&T, said, “The Middle East is far ahead in creating sustainable energy infrastructure and in providing a smart lifestyle. These orders are welcome additions to our green portfolio, as we build the company of the future with next-generation technologies”
L&T’s outstanding order book, as of March, was at Rs 4.75 trillion, with West Asia contributing 35 per cent to it. The company is yet to disclose the order inflow and order book numbers for the June-2024 ended quarter, however, analysts expect new order wins to have declined due to India’s general elections.
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According to Motilal Oswal’s data, L&T in the June-2024 ended quarter disclosed new order wins worth Rs 18,300 crore.
In an interview with Business Standard last week, Subramanian Sarma, whole-time director and president-energy, L&T said, “We are seeing a good prospect for orders on the international side.”